Common use of Other Dispositions Clause in Contracts

Other Dispositions. Notwithstanding the foregoing provisions of this Article XIII, as long as a Lease Payment/Bankruptcy Default or Lease Event of Default shall have occurred and be continuing, any amount that would otherwise be payable to or for the account of, or that would otherwise be retained by, Lessee pursuant to this Article XIII shall be paid to Agent (or to Lessor after the Loan Agreement shall have been satisfied and discharged) as security for the obligations of Lessee under this Lease, shall be invested by Agent (or Lessor) in accordance with Section 21.18 in Permitted Investments and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Payment/Bankruptcy Default or Lease Event of Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Genesis Health Ventures Inc /Pa)

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Other Dispositions. Notwithstanding the foregoing provisions of this Article XIII, as long as a Lease Payment/Bankruptcy Default or a Lease Event of Default shall have occurred and be continuing, any amount that would otherwise be payable to or for the account of, or that would otherwise be retained by, Lessee pursuant to this Article XIII shall be paid to Agent (or to Lessor after the Loan Agreement shall have been satisfied and discharged) as security for the obligations of Lessee under this Lease, shall be invested by Agent (or Lessor) Lessor in accordance with Section 21.18 20.17 in Permitted Investments and, if a Lease Default or a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Payment/Bankruptcy Default or Lease Event of Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease (Reebok International LTD)

Other Dispositions. Notwithstanding the foregoing provisions of this Article ARTICLE XIII, as long as a Lease Payment/Bankruptcy Default or a Lease Event of Default shall have occurred and be continuing, any amount that would otherwise be payable to or for the account of, or that would otherwise be retained by, Lessee pursuant to this Article ARTICLE XIII shall be paid to Agent (or to Lessor after the Loan Agreement shall have been satisfied and discharged) as security for the obligations of Lessee under this Lease, shall be invested by Agent (or Lessor) Lessor in accordance with Section 21.18 SECTION 20.17 in Permitted Investments and, if a Lease Default or a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Payment/Bankruptcy Default or Lease Event of Default shall be continuing, such amount and gain thereon shall be paid promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Reebok International LTD)

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Other Dispositions. Notwithstanding the foregoing provisions of this Article XIII, as long as a Lease Payment/Bankruptcy Default or Lease Event of Default shall have occurred and be continuing, any amount that would otherwise be payable to or for the account of, or that would otherwise be retained by, Lessee pursuant to this Article XIII shall be paid to Agent (or to Lessor after the Loan Agreement shall have been satisfied and discharged) as security for the obligations of Lessee under this Lease, shall be invested by Agent (or Lessor) in accordance with Section 21.18 in Permitted Investments and, if a Lease Event of Default is continuing, may be applied to the obligations of Lessee hereunder, and, at such time thereafter as no Lease Payment/Bankruptcy Default or Lease Event of Default shall be continuing, such amount and gain thereon shall be paid Lease Agreement promptly to Lessee to the extent not previously applied in accordance with the terms of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Genesis Health Ventures Inc /Pa)

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